Should I give copies of apartment rent checks to my accountant for taxes?
2007-01-25 05:25:45 · 7 answers · asked by LG 1 in Business & Finance ➔ Taxes ➔ United States
Actually, it depends on which state you live in. For example, I live in New York and we have a special credit for people who have less than $18,000 in household income and they can receive a refundable credit depending on how much they either paid in rent or property taxes. Bring everything in to your accountant and see what he or she thinks.
2007-01-25 05:33:40 · answer #1 · answered by emeraldsky21 2 · 3⤊ 0⤋
You may not deduct rent from your taxes. You cannot deduct mortgage from your taxes either. The only thing about housing you can deduct is the interest on a mortgage and personal property taxes.
2007-01-25 05:36:30 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Emeraldsky is spot on. Quite a few states provide this sort of credit. Does your accountant provide a tax questionnaire? Is there any mention in there?
2007-01-25 06:22:39 · answer #3 · answered by skip 6 · 1⤊ 0⤋
No. There is no line-item for claiming you rent as a deduction. It will be disallowed if you include it. Leave it off...simplify things...you'll get your return process more quickly.
Note: I am an attorney, but not a tax attorney.
2007-01-25 05:33:47 · answer #4 · answered by mugwumper 2 · 0⤊ 1⤋
Nope, he has no need for that. Rent is not a deductible item.
2007-01-25 05:31:28 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 1⤋
Rent is not deductible, so don't waste your or his/her time.
2007-01-25 05:32:40 · answer #6 · answered by Enchanted 3 · 0⤊ 1⤋
give them everything you think is important, if they don't need it they will give it back to you. they should be able to give you a list of things they need from you.
2007-01-25 05:31:38 · answer #7 · answered by besthusbandever 4 · 1⤊ 1⤋